Colgate-Palmolive (NYSE:CL) Stock: Insider John Hazlin Sells 23,376 Shares

Colgate-Palmolive Company (NYSE:CL) insider John Hazlin sold 23,376 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $99.15, for a total value of $2,317,730.40. Following the transaction, the insider owned 27,021 shares in the company, valued at $2,679,132.15. This trade represents a 46.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Colgate-Palmolive Trading Down 2.1%

CL opened at $96.61 on Friday. The stock has a market cap of $76.80 billion, a PE ratio of 37.89, a PEG ratio of 4.38 and a beta of 0.31. The company has a quick ratio of 0.30, a current ratio of 0.96 and a debt-to-equity ratio of 11.23. The business has a 50 day moving average of $90.12 and a 200-day moving average of $89.97. Colgate-Palmolive Company has a 52 week low of $75.96 and a 52 week high of $101.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.34 billion. Colgate-Palmolive had a return on equity of 607.88% and a net margin of 9.65%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. Equities research analysts predict that Colgate-Palmolive Company will post 3.92 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is 83.14%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CL shares. TD Cowen increased their price target on shares of Colgate-Palmolive from $90.00 to $97.00 and gave the stock a “hold” rating in a research note on Monday, November 2nd. Jefferies Financial Group reissued a “hold” rating and set a $89.00 price objective (up from $88.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Barclays upped their price objective on shares of Colgate-Palmolive from $87.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 3rd. Piper Sandler decreased their target price on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, September 21st. Finally, Evercore raised their target price on shares of Colgate-Palmolive from $100.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $101.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cooper Financial Group boosted its position in Colgate-Palmolive by 4.0% during the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock worth $270,000 after acquiring an additional 114 shares during the last quarter. Gould Capital LLC raised its holdings in shares of Colgate-Palmolive by 38.7% in the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of Colgate-Palmolive by 2.8% in the second quarter. Redhawk Wealth Advisors Inc. now owns 4,326 shares of the company’s stock valued at $397,000 after purchasing an additional 118 shares during the last quarter. SVB Wealth LLC raised its holdings in shares of Colgate-Palmolive by 1.4% in the second quarter. SVB Wealth LLC now owns 8,767 shares of the company’s stock valued at $804,000 after purchasing an additional 119 shares during the last quarter. Finally, Sowell Financial Services LLC lifted its position in shares of Colgate-Palmolive by 2.1% in the third quarter. Sowell Financial Services LLC now owns 5,737 shares of the company’s stock worth $490,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food.

The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world.

Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.